Section 247 Insolvency and Bankruptcy Code 2016 Amendments of Act 43 of 1961. 247. The Income-tax Act, 1961 shall be amended in the manner specified in the Third Schedule. Related Post Book-Commentary on Insolvency and Bankruptcy Code 2016 Insolvency and Bankruptcy Code 2016 Notified by Govt Insolvency and Bankruptcy code 2016 : certain provision to… Read More »
Fourth Schedule -Insolvency and Bankruptcy Code 2016 THE FOURTH SCHEDULE (See section 248) AMENDMENT TO THE CUSTOMS ACT, 1962 (52 of 1962) In section 142A, for the words and figures “and the Securitisation and Reconstruction of Financial Assets and the Enforcement of Security Interest Act, 2002”, the words and figures “Securitisation and Reconstruction of Financial… Read More »
Third Schedule -Insolvency and Bankruptcy Code 2016 THE THIRD SCHEDULE (See section 247) AMENDMENT TO THE INCOME-TAX ACT, 1961 (43 of 1961) In sub-section (6) of section 178, after the words “for the time being in force”, the words and figures “except the provisions of the Insolvency and Bankruptcy Code, 2016” shall be inserted. Related… Read More »
Section 246 Insolvency and Bankruptcy Code 2016 Amendments of Act 1 of 1944. 246. The Central Excise Act, 1944 shall be amended in the manner specified in the Second Schedule. Related Post Book-Commentary on Insolvency and Bankruptcy Code 2016 Insolvency and Bankruptcy Code 2016 Notified by Govt Insolvency and Bankruptcy code 2016 : certain provision… Read More »
Second Schedule- Insolvency and Bankruptcy Code 2016 THE SECOND SCHEDULE (See section 246) AMENDMENT TO THE CENTRAL EXCISE ACT, 1944 (1 of 1944) 1. In section 11E, for the words, figures and brackets “and the Securitisation and Reconstruction of Financial Assets and the Enforcement of Security Interest Act, 2002 (54 of 2002)”, the words, figures… Read More »
Section 244 Insolvency and Bankruptcy Code 2016 Enforced w.e.f 01.11.2016 Transitional provisions. 244. (1) Until the Board is constituted or a financial sector regulator is designated under section 195, as the case may be, the powers and functions of the Board or such designated financial sector regulator, including its power to make regulations, shall be… Read More »
Section 240 Insolvency and Bankruptcy Code 2016 Power to make regulations. 240. *(1) The Board may, by notification, make regulations consistent with this Code and the rules made thereunder, to carry out the provisions of this Code. (2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all… Read More »
Section 239 Insolvency and Bankruptcy Code 2016 Power to make rules. 239. *(1) The Central Government may, by notification, make rules for carrying out the provisions of this Code. (2) Without prejudice to the generality of the provisions of sub-section (1) , the Central Government may make rules for any of the following matters, namely:—… Read More »
Section 223 Insolvency and Bankruptcy Code 2016 Enforced w.e.f 01.11.2016 Accounts and audit. 223. (1) The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as may be prescribed by the Central Government in consultation with the Comptroller and Auditor-General of India. (2) The accounts… Read More »
Section 197 Insolvency and Bankruptcy Code 2016 Enforced w.e.f 01.11.2016 Constitution of advisory committee, executive committee or other committee. 197. The Board may, for the efficient discharge of its functions, may constitute advisory and executive committees or such other committees, as it may deem fit, consisting of a Chairperson and such other members as may… Read More »